A Favorable Direct Materials Cost Variance Occurs When the Actual

question 169

True/False

A favorable direct materials cost variance occurs when the actual direct materials cost incurred is greater than the standard direct materials cost.

---

Definitions:

Exemptions

Provisions that allow individuals or entities to be relieved from an obligation, such as taxes, previously imposed on them.

Corporate Income Taxes

Taxes imposed on the net income (profits) of corporations by the government.

Property Taxes

Government-imposed charges on property, calculated from the real estate's worth, intended to finance community facilities and public infrastructure.

Payroll Taxes

Payroll Taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.